Analysis: Crypto job market recovers, venture capital inflows drive hiring boom The crypto job market is showing signs of recovery as Web3 becomes more mainstream and the demand for positions at cryptocurrency and blockchain companies has seen an incredible increase, A recently posted Crypto product marketing manager position on Linkedln received over 500 applicants in just five days, and job site Crypto Jobs List recorded around 600 new crypto and blockchain job openings in July 2024. Industry insiders point to the influx of venture capital money into the crypto industry as driving the hiring boom, with crypto-focused VC firms pouring $2.01 billion into the industry in the first three months of 2024, according to PitchBook, already surpassing the $1.9 billion invested in all of 2023, as crypto companies struggle to meet growth goals and look to bring products to market This, in turn, has directly contributed to the demand for hiring. (PANews)

Placeholder Partner: This is a good early form for a bull market Chris Burniske, former head of crypto at Ark Invest and now partner at PlaceholderVC, wrote in × that sentiment has reset, leverage has been cleansed, and the lows for most high quality crypto assets this round are much higher than we saw in 2023. At the same time, global central banks are about to be forced to ease policy and market volatility is expected to intensify in the third quarter. In any case, this is a good early form for a bull market. (Daily Planet)

Grayscale, Bitwise, and the New York Stock Exchange requested a rule change to allow spot Ethereum ETF options In a filing published Wednesday, NYSE American LLC vs Grayscale and Bitwise have jointly proposed changing the rules to list and trade options on three products - the Bitwise Ethereum ETF, Grayscale Ethereum Trust and Grayscale Ethereum Mini-Trust. The proposed document will be subject to comment within 21 days. (The Block)

The US Department of Homeland Security has charged a man in connection with a cryptocurrency recovery scam A Homeland Security Investigations (HSI) task force investigating a fake cryptocurrency recovery scam has charged a Las Vegas man (Michael Lauchlan). The man's CDN network claims to offer services such as blockchain analysis, tracking and recovery of lost cryptocurrencies for a fee. However, instead of recovering the assets, Lauchlan allegedly kept the fees and, in some cases, withdrew additional Ethereum assets and issued false promises and fake blockchain tracking reports to customers. The HSI team reported that they interviewed more than 175 CDN customers, but not one of them was able to recover any cryptocurrency using the service. In addition, about $14,000 of CDN users' cryptocurrencies were traced back to the CoinEx cryptocurrency exchange. (BlockBeats)

As prices fell, Jump Crypto moved hundreds of millions of dollars in cryptocurrencies Jump Crypto, the cryptocurrency arm of Jump Trading, appears to be liquidating some of its positions, moving tokens from exchange hot wallets to exchange deposit addresses. Most of the cryptocurrencies are in the form of pledged ether, which Jump has been unpledging and potentially selling since July 25, a few days after the launch of the U.S. spot Ether ETF. (The Block)

An Indian court has reaffirmed that cryptocurrency trading cannot be considered illegal, granting bail to Yes World CEO The High Court of the Indian state of Odisha has reiterated that cryptocurrency trading is neither prohibited nor considered illegal in India. The court granted bail to Sandeep Chowdhury, CEO of YesWorld, on the grounds that there is no official ban or illegal act against cryptocurrency trading in the country. Chowdhury was previously detained on suspicion of defrauding investors through a Ponzi scheme or multi-level marketing scheme disguised as a cryptocurrency business. Although India currently lacks specific cryptocurrency regulations, the government imposes heavy taxes on cryptocurrency transactions. Gains in virtual digital assets (Vdas) are subject to a 30% tax, and users cannot offset gains with losses as they can with stocks. In addition, the 1% withholding tax (TDS) on digital asset transactions further impacts traders. (PANews)